What is company currency in SAP SRD-FIN-GL - FIN-General Ledger?

SAP Term: company currency

• Component: SRD-FIN-GL

• Component Name: FIN-General Ledger

• Description: The primary currency of a company. It is the currency used on the financial statements. All transactions and balances in other currencies are converted to this currency.

Smart SAP Assistant

• Key Concepts: 
  Company currency is a term used in SAP to refer to the currency that is used for all financial transactions within a company. This currency is usually the same as the country’s official currency, but it can be different if the company does business in multiple countries. The company currency is used to record all financial transactions and to calculate the company’s financial statements. 
  
  How to use it: 
  In SAP, the company currency is set up in the Financial Accounting (FI) module. The company currency is set up in the General Ledger (GL) component of FI. Once the company currency is set up, all financial transactions must be recorded in this currency. 
  
  Tips & Tricks: 
  When setting up the company currency, it is important to make sure that all transactions are recorded in this currency. This will ensure that all financial statements are accurate and that any foreign exchange gains or losses are properly accounted for. 
  
  Related Information: 
  The company currency is closely related to foreign exchange rates, as any foreign exchange gains or losses must be accounted for when recording transactions in a different currency than the company’s official currency. It is also important to note that the company currency must be set up before any other currencies can be used in SAP.